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Quantum AI startup SandboxAQ valued at $5.3 billion after $300 million fundraising

Economic Times

Economic Times · 8m ago

Quantum AI startup SandboxAQ valued at $5.3 billion after $300 million fundraising

AI startup SandboxAQ has received over $300 million in funding, valuing the company at $5.6 billion. The funds will be used to accelerate the development of advanced AI systems, particularly large quantitative models (LQMs) and other applications in industries like healthcare and finance. SandboxAQ's AI technology differs from language models, as it trains on large numerical data. The company plans to build niche modules for enterprise customers and can leverage existing hardware like Nvidia GPUs. SandboxAQ was spun off from Alphabet in 2022, with Eric Schmidt as chairman.

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Abridge, whose AI app takes notes for doctors, valued at $5.3 billion at funding

Livemint

Livemint · 2m ago

Abridge, whose AI app takes notes for doctors, valued at $5.3 billion at funding

Abridge, a startup that automates doctors' note-taking using AI, raised $300 million in a funding round led by Andreessen Horowitz, valuing the company at $5.3 billion. This funding will be used to further develop its ambient-listening products. Previously, Abridge was valued at $2.75 billion in February after raising $250 million. The investment highlights the growing interest and potential in AI-driven healthcare solutions.

Andreessen Horowitz Leads $300 Million Round Backing Abridge AI Valued at $5.3 Billion for Doctor-Patient Transcription | DeepNewz VC

Business Bytes

Business Bytes · 2m ago

Andreessen Horowitz Leads $300 Million Round Backing Abridge AI Valued at $5.3 Billion for Doctor-Patient Transcription | DeepNewz VC

Andreessen Horowitz led a $300 million funding round for Abridge AI, valuing it at $5.3 billion. Meanwhile, U.S. venture capitalists are actively engaging with China's biotech sector, indicating a burgeoning interest in tapping into Chinese innovation within this industry.

AI startup Cohere in talks to raise roughly $500 million to $1 billion

Economic Times

Economic Times · 1y ago

AI startup Cohere in talks to raise roughly $500 million to $1 billion

Toronto-based startup Cohere is reportedly in talks with investors to raise $500 million to $1 billion, following the success of AI software application ChatGPT. The fundraising effort aims to develop AI, recruit talent, and expand sales activities. Cohere, valued at $2.2 billion after raising $270 million in June 2023, focuses on business applications of AI, helping professionals streamline tasks. The startup competes with OpenAI and Anthropic. The new funds will support Cohere's growth and technology development. Executives at Davos expressed interest in understanding how to monetize AI. Cohere's CEO, Aidan Gomez, has not commented on the matter.

IPV leads pre-seed round in Bloq Quantum

Entrackr

Entrackr · 1y ago

IPV leads pre-seed round in Bloq Quantum

Artificial Intelligence driven quantum software startup Bloq Quantum has raised Rs 1.3 crore in a pre Seed funding round led by Inflection Point Ventures. The startup had previously raised $95.8K from its existing investor. The proceeds will be deployed for product development, team expansion. innovation in quantum algorithms, improve platform functionalities, and expedite growth, Bloq Quantum said in a press release. Co-founded in 2024 by Sreekuttan L S & Jay Patel, Bloq Quantum simplifies enterprise adoption of quantum computing with its user-friendly low-code interface. According to market research, the global quantum computing market was valued at $10.13 billion in 2022 and is expected to exceed $125 billion by 2030, growing at a CAGR of 36.89%. The Kollam-based startup claims to operate globally, providing quantum computing solutions to clients worldwide. It caters to diverse industries and users, and lays emphasis on quantum computing innovations on a global scale.

Anthropic draws investor interest at more than $100 billion valuation - The Economic Times

Economic Times

Economic Times · 1m ago

Anthropic draws investor interest at more than $100 billion valuation - The Economic Times

OpenAI competitor Anthropic is reportedly looking to secure another investment round valued at over $100 billion, significantly higher than its previous $61.5 billion valuation. Despite not formally fundraising, the AI startup, founded by Daniela and Dario Amodei, is attracting investor interest for its chatbot, Claude, as its annualized revenue rose from $3 billion to $4 billion. Investors like Amazon and Alphabet have backed Anthropic, which continues to experience strong growth in the Silicon Valley AI ecosystem.

Nvidia in advanced talks to invest in PsiQuantum

Economic Times

Economic Times · 3m ago

Nvidia in advanced talks to invest in PsiQuantum

Nvidia is reportedly in advanced discussions to invest in PsiQuantum, a startup focused on quantum computing. Earlier reports indicated that PsiQuantum is raising at least $750 million at a $6 billion valuation, with involvement from investors like BlackRock. The potential of quantum technology lies in its ability to perform complex calculations beyond the scope of current AI systems, offering promising applications in fields such as cybersecurity and scientific research.

Perplexity AI's value triples to $9 bn in latest funding round

Inshorts · 8m ago

Perplexity AI's value triples to $9 bn in latest funding round

Perplexity AI, an artificial intelligence startup co-founded by Indian-origin Aravind Srinivas, has closed a $500-million round of funding that triples its valuation to $9 billion, Bloomberg reported. In April, Perplexity was valued at $1 billion, a figure that jumped to $3 billion in June after investment from SoftBank Group's Vision Fund 2. Perplexity, founded in 2022, is rival of ChatGPT.

AI startup Reka, with no revenue yet, raises $50 million: Report

Inshorts · 2y ago

AI startup Reka, with no revenue yet, raises $50 million: Report

Reka, a startup founded by ex-researchers from Alphabet's DeepMind, has secured $50 million in funding. Investors in this funding round include Snowflake and Yuri Milner's DST Global. Despite not generating any revenue yet, the funding has valued Reka at approximately $300 million. The startup specializes in AI models, and its success has attracted significant investment interest, as reported by Reuters.

Four months after a $3B valuation, Harvey AI grows to $5B | TechCrunch

TechCrunch · 2m ago

Four months after a $3B valuation, Harvey AI grows to $5B | TechCrunch

Harvey AI, a startup specializing in legal automation, has raised $300 million in Series E funding, reaching a $5 billion valuation. The funding round was led by Kleiner Perkins and Coatue, among others. This follows a recent $300 million Series D round at a $3 billion valuation. Harvey plans to double its 340 employees, aiming to extend AI solutions beyond legal work. The company serves 337 legal clients and has a growing annualized revenue run-rate of $75 million.

India’s startups will no longer prefer price perfection

Business Today

Business Today · 1y ago

India’s startups will no longer prefer price perfection

India's once highly valued startups, Paytm and Byju's, are now facing crushed valuations, which will likely impact the country's future fundraising efforts. Paytm, known for its digital payments revolution, is currently valued at $3 billion, a significant drop from its previous valuation of nearly $19 billion. Byju's, the online education provider, recently raised $200 million, cutting its valuation by 99%. Both companies have faced challenges, including regulatory issues and struggles with creditors and investors. This setback highlights the need for improved oversight and cautious investment in the Indian startup ecosystem.

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